CNBC: Boeing to take $4.9bn hit in second quarter on 737 Max grounding

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By LoadstarEditorial

18/07/2019

CNBC reports: “Boeing on Thursday said it will take a $4.9bn charge in the second quarter due to the worldwide grounding of its 737 Max planes after two fatal crashes. The charge, which comes to $8.74 a share, is set to wipe out any profit. Analysts expected the company to book a per-share profit of $1.80 for the second quarter, according to average estimates compiled by Refinitiv. The charge would reduce revenue and pre-tax earnings by $5.6bn in the quarter, it added.”

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